The PancakeBunny exploiter, who has been inactive for years, has transferred $2.9 million in stolen funds through Tornado Cash, a cryptocurrency blending platform.
The infamous PancakeBunny exploiter has re-emerged, transferring substantial quantities of money through Tornado Cash, in a surprising development. After years of inactivity, this individual has recently resumed activity, garnering the attention of the crypto community and being responsible for a $45 million exploit in May 2021.
The PancakeBunny perpetrator transferred 1,002 ETH, which is equivalent to approximately $2.9 million, through Tornado Cash on Sunday. This platform is renowned for its capacity to conceal transaction details. This transaction was emphasized by the security firm CertiK Alerts, which disclosed that the funds were transmitted from the wallet address 0xd0f2259e0bd71e849143bbc07f4e427bb6f7756b.
The PancakeBunny exploit, which occurred in May 2021, was a sophisticated flash loan attack that caused user losses of approximately $45 million. Using a significant quantity of assets from PancakeSwap, the perpetrator manipulated the price of BUNNY tokens.
The attacker achieved substantial profits by manipulating the token prices and subsequently unloading them on the market, resulting in a value of nearly zero.
The exploiter continues to possess $11.4 million in DAI in the wallet address 0x820C, despite having transferred a substantial portion of the stolen funds. This activity emphasizes the ongoing obstacles encountered by security experts and regulators in the process of locating and recovering lost cryptocurrency.
The dual-edged nature of Tornado Cash is evident in this instance. Although it provides privacy protection for legitimate users, it is also a preferred tool for cybercriminals to conceal stolen funds. The PancakeBunny exploit serves as a stark reminder of the intricacies involved in the delicate balance between privacy and security in the crypto space.
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